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Entrepreneurs’ Decisions in Perceived Environmental Uncertainty

Rana Zayadin, Antonella Zucchella, Amitabh Anand, Paul Jones Orcid Logo, Nisreen Ameen

British Journal of Management

Swansea University Author: Paul Jones Orcid Logo

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Abstract

This research advances the understanding of entrepreneurial decisions in the context of perceived uncertainty related to regional political instability. Using qualitative data from a sample of 29 entrepreneurs, we captured the entrepreneurs’ perceptions of uncertainty and how these perceptions infor...

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Published in: British Journal of Management
ISSN: 1045-3172 1467-8551
Published: UK Wiley 2022
Online Access: Check full text

URI: https://cronfa.swan.ac.uk/Record/cronfa59672
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Abstract: This research advances the understanding of entrepreneurial decisions in the context of perceived uncertainty related to regional political instability. Using qualitative data from a sample of 29 entrepreneurs, we captured the entrepreneurs’ perceptions of uncertainty and how these perceptions informed their judgement and led to confidence in their decisions. The perceptions of uncertainty that influenced the entrepreneurs’ decision-making were grouped into three main categories: efforts to understand changes in regional markets; efforts to understand changes in local markets; and identifying multiple and compounded layers of uncertainty. The entrepreneurs’ decisions were informed by the interactions between their perceptions of a dynamic and changing environment and their judgements about mobilising resources in response to that environment. The findings of this research extend the current understanding of how entrepreneurs use judgement to arrive at decisions in contexts of uncertainty and highlight the dynamic relationship between individuals and context. The research has theoretical and practical implications for developing and leveraging entrepreneurial decision-making in uncertain environments.
Keywords: Entrepreneurship; perceived uncertainty; judgement-based approach; decision-making; self-efficacy
College: School of Management